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Big Three Transfer Retiree Health Care Liabilities

By

Jeff Bennett And

Kathy Shwiff

Updated Jan. 4, 2010 5:37 p.m. ET

DETROIT—Ford Motor Co., General Motors Co. and Chrysler Group LLC officially ended years of uncontrolled retiree health-care costs by moving those expenses to three funds that will be supervised by the United Auto Workers union.

The three auto makers confirmed Monday that the transfer of liabilities to create the UAW's Voluntary Employee Beneficiary Association were completed within the past few vdays.